Economy overview: The economy of Angola is in a state of chaos due to a civil war that has lasted almost continuously for a quarter of a century. Despite abundant natural resources, the country ranks among the last in the world in per capita production. Agriculture provides livelihoods for 85% of the population. Oil production and related industries are vital to the economy; their contribution is about 45% to GDP and 90% to exports. Although a truce agreement was signed in November 1994, violence continues, millions of mines remain in the ground, and many farmers refuse to return to their fields. As a result, the bulk of food products in the country have to be imported. To take advantage of its rich resources – deposits of gold and diamonds, vast forests, fishy waters of the Atlantic and large reserves of oil, Angola will be required to enforce the peace agreement and reform government policies. Despite the resumption of the civil war in 1998, in 2000 economic indicators grew by about 5%. Internal conflicts discourage investment outside of the oil sector, which produces an estimated 800,000 barrels a day. Angola cooperates with the IMF. Continued growth depends on whether there is a sharp reduction in inflation, whether economic reforms begin and whether warring factions reconcile. The government introduced new banknotes into circulation, in particular banknotes in denominations of 1 and 5 kwanzas. The increased volumes of oil production make it possible to make optimistic forecasts for 2000. See businesscarriers.com to know more about Angola Economics and Business.
GDP: Purchasing Power Parity $10.1 billion (2000 est.)
Real GDP growth rate: 4.9% (2000 est.).
GDP per capita: Purchasing Power Parity $1,000 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 7%; industry: 60%; services: 33% (1999 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 325% (2000 est.).
Labor force: 5 million people (1997 est.).
Employment structure: agriculture 85%, industry and services 15% (1997 est.).
Unemployment rate: Unemployment and underemployment cover more than half of the population (2000 est.).
Budget: revenues: $928 million; expenditures: $2.5 billion, including capital expenditures of $963 million (1992 est.).
Spheres of economy: oil production; mining of diamonds, iron ore, phosphates, feldspar, bauxite, uranium and gold; cement production; heavy industry; fish processing; food industry; brewing; production of tobacco products; sugar industry; textile industry.
Growth in industrial production: no data available.
Electricity generation: 1.475 billion kWh (1999)
Sources of electricity generation: fossil fuels: 32.2%; hydropower: 67.8%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 1.372 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: bananas, sugarcane, coffee, sisal, corn, cotton, cassava (tapioca), tobacco, vegetables, bananas; cattle; forest products; fish.
Exports: $7.8 billion (free on board, 2000 est.)
Exports: crude oil 90%, diamonds, refined petroleum products, natural gas, coffee, sisal, fish and fish products, timber, cotton.
Export partners: USA 54%, South Korea 14%, Benelux 11%, China 7%, Taiwan 6% (1999).
Imports: $2.5 billion (free on board, 2000 est.)
Import items: industrial equipment and electrical equipment, vehicles and spare parts; medicines, food, textiles, military equipment.
Import partners: South Korea 16%, Portugal 15%, USA 13%, South Africa 10%, France 8% (1999).
External debt: $10.8 billion (2000 est.) Economic aid recipient: $493.1 million (1995)
Economic aid donor:
Currency: 1 kwanza (AOA).
Currency code: AOA.
Exchange rate: AOA/USD – 17,910,800 (January 2001), 10,041,000 (2000), 2,790,706 (1999), 392,824 (1998), 229,040 (1997), 128,029 (1996); note: in December 1999, the currency was denominated and six zeros were dropped.
Fiscal year: calendar year.
Telecommunications Telephone lines: 62,000 (1997).
Mobile Cell Phones: 7052 (1997).
Telephone system: The telephone system serves primarily the needs of government and business; high-frequency radiotelephones are actively used for military communications; domestic: limited wireline, shortwave burdock and troposcatter communications; international: satellite ground stations – 2 Intelsat (Atlantic Ocean region).
Broadcast stations: AM -34, FM -7, shortwave -9 (1999).
Radio receivers: 630,000 (1997).
Television broadcast stations: 7 (1999).
TVs: 150,000 (1997).
Internet country code: ao
Internet Service Providers: 1 (2000).
Number of users: 12,000 (1999).
Transport Railways: total length: 2,771 km (most of the routes inland cannot be used due to mines still in the ground); narrow gauge: 2,648 km (1.067 m gauge); 123 km (0.600 m gauge) (2000).
Roads: total length: 76,626 km; coated: 19,156 km; unpaved: 57,470 km (1997 est.)
Waterways: 1,295 km.
Pipelines: for crude oil -179 km.
Ports and harbors: Ambriz, Cabinda, Lobito, Luanda, Malongo, Mocamedes, Nimibe, Porto Amboym, Soyo.
Merchant navy: in total: 9 vessels (displacement of 1,000 tons or more) with a total displacement of 39,305 gross register tons/63,067 long tons of gross tonnage; ships of various types: cargo ships – 8, oil tankers – 1 (2000 est.).
Airports: 247 (2000 OC).
Airports with paved runways: total: 31; over 3,047 m: 4; from 2438 to 3047 m: 8; from 1524 to 2437 m:12; from 914 to 1523 m:6; less than 914 m: 1 (2000 est.).
Airports with unpaved runways: total: 216; over 3,047 m: 2; from 2438 to 3047 m:5; from 1524 to 2437 m: 30; from 914 to 1523 m: 96; less than 914 m: 83 (2000 est.).
Branches of the Armed Forces: Army, Navy, Air Force and Air Defense Forces, National Police Forces.
Enlistment age: 18 years old.
Total Military Manpower: Male 15 to 49: 2,480,016 (2001 est.).
Eligible for military service: males aged 15 to 49: 1,246,224 (2001 est.).
Number of persons reaching military age each year: male: 103,807 (2001 est.).
Military spending in dollar terms: $1.2 billion (1997)
Military spending as part of GDP: 22% (1999).
International issues International disputes: no.
Illicit drugs: The country’s role as a transit point for cocaine and heroin destined for Western Europe and other African countries is growing.